Capital Market Strategies LLC Sells 34,903 Shares of Goldman Sachs BDC, Inc. $GSBD

Key Points

• Capital Market Strategies LLC reduced its stake in Goldman Sachs BDC, Inc. by 23.4%, selling 34,903 shares, and now holds approximately 114,000 shares, which represents 0.9% of its portfolio.
• Goldman Sachs BDC recently reported disappointing quarterly earnings, with earnings per share of $0.38, missing expectations, and revenues lower than forecasts at $90.97 million.
• Zacks Research downgraded Goldman Sachs BDC from a "hold" rating to a "strong sell" with a consensus target price of $10.00.

Capital Market Strategies LLC cut its holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 23.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,000 shares of the financial services provider's stock after selling 34,903 shares during the quarter. Goldman Sachs BDC accounts for approximately 0.9% of Capital Market Strategies LLC's holdings, making the stock its 20th largest position. Capital Market Strategies LLC owned approximately 0.10% of Goldman Sachs BDC worth $1,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GSBD. Northern Trust Corp lifted its position in Goldman Sachs BDC by 18.1% in the 4th quarter. Northern Trust Corp now owns 72,283 shares of the financial services provider's stock valued at $875,000 after acquiring an additional 11,054 shares in the last quarter. Jane Street Group LLC lifted its position in Goldman Sachs BDC by 924.4% in the 4th quarter. Jane Street Group LLC now owns 132,152 shares of the financial services provider's stock valued at $1,599,000 after acquiring an additional 119,252 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Goldman Sachs BDC by 25.6% in the 4th quarter. Ameriprise Financial Inc. now owns 125,016 shares of the financial services provider's stock valued at $1,477,000 after acquiring an additional 25,491 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Goldman Sachs BDC by 198.6% in the 4th quarter. BNP Paribas Financial Markets now owns 105,442 shares of the financial services provider's stock valued at $1,276,000 after acquiring an additional 70,131 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Goldman Sachs BDC during the 4th quarter valued at $370,000. 28.72% of the stock is owned by institutional investors.

Goldman Sachs BDC Price Performance

NYSE GSBD opened at $11.38 on Friday. The business's fifty day moving average price is $11.46 and its 200-day moving average price is $11.39. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.03 and a beta of 0.75. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.50 and a quick ratio of 1.50. Goldman Sachs BDC, Inc. has a 1-year low of $9.51 and a 1-year high of $14.54.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $90.97 million for the quarter, compared to the consensus estimate of $94.55 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. On average, equities analysts predict that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th. Goldman Sachs BDC's dividend payout ratio is 101.59%.

Analysts Set New Price Targets

Separately, Zacks Research cut Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of "Sell" and a consensus target price of $10.00.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.

Want to see what other hedge funds are holding GSBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.